- Gold and silver prices are expected to move lower in the near future, falling to levels like 25450 and 34200 respectively, as long as resistance levels are capped. - Copper prices are seen moving sideways in a narrow range of 410-414 in the short term amid consolidating momentum. Most base metals are recommended for selling. - Crude oil is favored to buy while natural gas is recommended to sell, with prices of crude seen rising to 4850 and natural gas falling to 254/250.

1. 13th Nov’14 Aaj Ka Trend
Bullions MCX Gold Dec Hourly Chart
Technical View: As mentioned in our previous report, ‘prices are trading in wave ‘II’ of the higher degree wave ‘b’ which could be completed near 25900-25950 levels followed by down move in terms of wave ‘III’ of higher degree wave ‘b’’ we now expect prices have completed wave ‘II’ of wave ‘b’ near yesterday’s trading session’s high at 25956 levels and moved lower. We further expect prices should move lower near 25450 followed by 25050 levels as long as 25960 levels are capped on higher side. MCX Silver Dec Hourly Chart
Technical View: Silver prices traded in small trading range in yesterday’s trading session along with the momentum indicator RSI which remain in the range of 60-40 levels. We now expect prices should remain under pressure as long as 35200 levels are capped on higher side for the test of 34200 levels. COMEX Silver prices traded in smaller range of 0.215$ range which suggest prices are consolidating. Break on the either would confirm the direction. Favored view remains bearish.

2. 13th Nov’14 Aaj Ka Trend
Fundamental News:
• Gold prices edged up modestly on Wednesday, but gains remained limited amid expectations that the Federal Reserve will raise interest rates sooner than expected
• On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,166.10 a troy ounce during U.S. morning hours, up $3.10, or 0.27%.
Pivot Levels for the Day:
S1
S2
S3
Pivot
R1
R2
R3
Gold
25693
25599
25373
25825
25919
26051
26277
Silver
34488
34280
33839
34721
34929
35162
35603
Recommendation:
Gold
Sell
Silver
Neutral

3. 13th Nov’14 Aaj Ka Trend
Base Metals MCX Copper Nov Hourly Chart
Technical Views: Prices remained volatile throughout the trading session where prices moved near 414 levels on higher side while made 410.30 low. The momentum indicator, RSI has taken resistance near 60 levels and is between 60-40 levels which suggest sideways moment in the copper prices. We expect prices could continue it sideways direction and remain in the mentioned range for few trading session.
MCX Aluminum Nov Hourly Chart
MCX Lead Nov Hourly Chart
MCX Nickel Nov Hourly Chart
MCX Zinc Nov Hourly Chart

4. 13th Nov’14 Aaj Ka Trend
Fundamental News:
• Copper futures edged lower on Wednesday, as traders looked ahead to key Chinese economic data later in the week to gauge the strength of the world’s second largest economy and biggest consumer of the industrial metal.
• On the Comex division of the New York Mercantile Exchange, copper for December delivery shed 0.6 cents, or 0.2% to trade at $3.027 a pound during European morning hours.
Pivot Levels for the Day:
S1
S2
S3
Pivot
R1
R2
R3
Copper
409.6
408.1
404.5
411.8
413.2
415.4
419.1
Aluminum
126.3
125.0
122.7
127.3
128.6
129.6
131.9
Lead
125.2
124.6
123.4
125.8
126.4
127.0
128.2
Nickel
945.7
935.5
913.7
957.3
967.5
979.1
1000.9
Zinc
139.0
138.1
136.3
140.0
140.9
141.8
143.7
Recommendation:
Copper
Neutral
Aluminum
Sell
Lead
Sell
Nickel
Sell
Zinc
Neutral

5. 13th Nov’14 Aaj Ka Trend
Energy MCX Crude Nov Hourly Chart:
Technical Views: Prices traded in range however outlook remains bullish as long as mentioned hammer’s low of 4710 is protected on downside. RSI has remained in 60-40 range. On daily timeframe prices have formed doji which itself suggest no clear trend in the prices. For now as long as 4700 levels are protected on downside prices can head towards 4850 levels. MCX Natural Gas Oct Hourly Chart:
Technical Views: As expected natural gas prices drifted lower almost near our target levels. Bias remains bearish with no change in outlook. We expect prices should test 254/250 levels as long as 264 levels are capped on higher side.

6. 13th Nov’14 Aaj Ka Trend
Fundamental News:
• U.S. natural gas prices fell for the third consecutive session on Wednesday, as investors continued to lock in gains from a recent rally which took futures to four-month highs.
• On the New York Mercantile Exchange, natural gas for delivery in December lost 8.5 cents, or 1.99%, to trade at $4.163 per million British thermal units during U.S. morning hours.
Pivot Levels for the Day:
S1
S2
S3
Pivot
R1
R2
R3
Crude
4726
4696
4628
4764
4794
4832
4900
Natural Gas
209.8
230.0
224.5
235.5
215.3
241.0
246.5
Recommendation:
Crude
Buy
Natural Gas
Sell

7. 13th Nov’14 Aaj Ka Trend
Sumeet Bagadia (Associate Director) sumeet.bagadia@choiceindia.com
Ritesh Patel (Research Associate) ritesh.patel@choiceindia.com
Deveya Gaglani (Research Advisor) deveya.gaglani@chocieindia.com
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8. 13th Nov’14 Aaj Ka Trend
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